The big data analytics in banking, financial services, and insurance (BFSI) market size is expected to see rapid growth in the next few years. It will grow to $54.28 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. In the forecast period, growth is expected to be fueled by the expanding use of predictive analytics, enhanced real-time data processing capabilities, increasing cybersecurity threats, a rise in digital payment activities, and the growing application of AI-driven insights. Key trends anticipated include innovations in technology, widespread adoption of artificial intelligence and machine learning, deployment of cloud-based analytics platforms, emphasis on real-time data analysis, and growth through strategic partnerships and acquisitions.
The surge in digital transactions is expected to drive growth in the big data analytics market for banking, financial services, and insurance (BFSI). Digital transactions involve the electronic exchange of money or value, while interactions refer to the engagement between users and digital platforms during these processes. The growth in digital transactions is fueled by widespread smartphone adoption, which makes accessing financial services faster and more convenient. Big data analytics in BFSI supports these transactions by providing real-time insights that enhance security, personalize services, and improve customer experiences. For example, in January 2024, the European Central Bank reported that contactless card transactions in the first half of 2023 increased by 24.3% to 20.9 billion, compared to the same period in 2022.
Companies in the BFSI big data analytics market are developing advanced solutions such as customer data platforms (CDPs) to unify data from multiple sources and deliver real-time insights for personalization, risk management, and decision-making. CDPs aggregate customer information into a single profile, making it accessible for analytics and engagement. For instance, in November 2024, FinBox Tech Private Limited, an India-based fintech company, launched an Account Aggregator-based CDP to provide banks and non-banking financial companies with unified customer insights. This platform helps overcome fragmented data, supports financial health assessment, and enables use cases such as automated rules, customer cohort creation, early warning systems, portfolio monitoring, credit line management, and personalized cross-sell and up-sell strategies.
In December 2023, M2P Fintech, an India-based system software company, acquired Goals101 for $30 million. The acquisition allows M2P to integrate Goals101’s technology with its existing financial services portfolio, expanding capabilities and offering more comprehensive, integrated solutions. This integration aims to improve operational efficiency, enhance service delivery, and support the creation of innovative financial products. Goals101 is an India-based provider of big data analytics solutions for the BFSI sector.
Major players in the big data analytics in banking, financial services, and insurance (BFSI) market are Microsoft Corporation, Dell Technologies Inc., Accenture plc, International Business Machines Corporation, Oracle Corporation, Salesforce Inc., Hewlett Packard Enterprise Company, Tata Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Wipro Limited, Genpact Limited, SAS Institute Inc., Hitachi Vantara LLC, Clarivate Plc, Snowflake Inc., Palantir Technologies Inc., Teradata Corporation, Informatica LLC, Fair Isaac Corporation, MicroStrategy Incorporated, and Cloudera Inc.
North America was the largest region in the big data analytics in banking, financial services, and insurance (BFSI) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in big data analytics in banking, financial services, and insurance (BFSI) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the big data analytics in banking, financial services, and insurance (BFSI) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the financial sector, particularly in investment strategies and risk management. Heightened tariffs have fueled market volatility, prompting cautious behavior among institutional investors and increasing demand for hedging instruments. Banks and asset managers are facing higher costs associated with cross-border transactions, as tariffs disrupt global supply chains and dampen corporate earnings, key drivers of equity market performance. Insurance companies, meanwhile, are grappling with increased claims risks tied to supply chain disruptions and trade-related business losses. Additionally, reduced consumer spending and weakened export demand are constraining credit growth and investment appetite. The sector must now prioritize diversification, digital transformation, and robust scenario planning to navigate the heightened economic uncertainty and protect profitability.
Big data analytics in the BFSI sector refers to the processing and examination of large volumes of data generated from financial operations to uncover actionable insights. It helps organizations identify patterns, forecast trends, and make strategic decisions that enhance efficiency, manage risks, and drive growth, all while managing complex and rapidly changing financial information in real time.
The primary categories of big data analytics in BFSI include descriptive, predictive, prescriptive, diagnostic, and real-time analytics. Descriptive analytics involves examining historical data to understand past events and trends. These analytics solutions can be deployed on-premises, in the cloud, or using a hybrid approach and are suitable for organizations of all sizes, from small and medium enterprises to large corporations. Applications include customer relationship management, fraud detection, risk assessment, operational efficiency, customer insights, and more. Key users include banks, insurance firms, investment companies, regulatory agencies, and fintech organizations.
The big data analytics in banking, financial services, and insurance (BFSI) market research report is one of a series of new reports that provides big data analytics in banking, financial services, and insurance (BFSI) market statistics, including the big data analytics in banking, financial services, and insurance (BFSI) industry global market size, regional shares, competitors with the big data analytics in banking, financial services, and insurance (BFSI) market share, detailed big data analytics in banking, financial services, and insurance (BFSI) market segments, market trends, and opportunities, and any further data you may need to thrive in the big data analytics in banking, financial services, and insurance (BFSI) industry. This big data analytics in banking, financial services, and insurance (BFSI) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The big data analytics in banking, financial services, and insurance (BFSI) market consists of revenues earned by entities by providing services such as credit scoring and loan analytics, portfolio management analytics, customer segmentation, and real-time transaction monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The big data analytics in banking, financial services, and insurance (BFSI) market also includes sales of data storage systems, real-time data processing systems, fraud detection appliances, and data visualization appliances. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Big Data Analytics in Banking, Financial Services, and Insurance (BFSI) Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on big data analytics in banking, financial services, and insurance (bfsi) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for big data analytics in banking, financial services, and insurance (bfsi)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The big data analytics in banking, financial services, and insurance (bfsi) market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include: the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:
1) By Type of Big Data Analytics: Descriptive Analytics; Predictive Analytics; Prescriptive Analytics; Diagnostic Analytics; Real-Time Analytics2) By Deployment Mode: on-premises; Cloud-based; Hybrid
3) By Size of Organization: Small Enterprises; Medium Enterprises; Large Enterprises
4) By Application: Customer Relationship Management (CRM); Fraud Detection; Risk Management; Operation Optimization; Customer Analytics; Other Applications
5) By End User: Banks; Insurance Companies; Investment Firms; Regulatory Bodies; Financial Technology (FinTech) Companies
Subsegments:
1) By Descriptive Analytics: Customer Behavior Analysis; Transaction Trend Analysis; Financial Performance Reporting; Risk Exposure Summarization; Market Segmentation Analysis2) By Predictive Analytics: Credit Risk Forecasting; Fraud Detection Modeling; Customer Churn Prediction; Investment Return Forecasting; Loan Default Prediction
3) By Prescriptive Analytics: Portfolio Optimization Recommendations; Risk Mitigation Strategies; Personalized Product Offering Suggestions; Regulatory Compliance Advisory; Pricing Strategy Optimization
4) By Diagnostic Analytics: Fraud Incident Investigation; Loss Causation Analysis; Compliance Breach Analysis; Customer Complaint Root Cause Analysis; Failed Transaction Analysis
5) By Real-Time Analytics, by Type: Instant Fraud Detection; Real-Time Credit Scoring; Live Transaction Monitoring; Immediate Risk Alerts; Dynamic Market Pricing
Companies Mentioned: Microsoft Corporation; Dell Technologies Inc.; Accenture plc; International Business Machines Corporation; Oracle Corporation; Salesforce Inc.; Hewlett Packard Enterprise Company; Tata Consultancy Services Limited; Capgemini SE; Cognizant Technology Solutions Corporation; Infosys Limited; Wipro Limited; Genpact Limited; SAS Institute Inc.; Hitachi Vantara LLC; Clarivate Plc; Snowflake Inc.; Palantir Technologies Inc.; Teradata Corporation; Informatica LLC; Fair Isaac Corporation; MicroStrategy Incorporated; Cloudera Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The companies featured in this Big Data Analytics in Banking, Financial Services, and Insurance (BFSI) market report include:- Microsoft Corporation
- Dell Technologies Inc.
- Accenture plc
- International Business Machines Corporation
- Oracle Corporation
- Salesforce Inc.
- Hewlett Packard Enterprise Company
- Tata Consultancy Services Limited
- Capgemini SE
- Cognizant Technology Solutions Corporation
- Infosys Limited
- Wipro Limited
- Genpact Limited
- SAS Institute Inc.
- Hitachi Vantara LLC
- Clarivate Plc
- Snowflake Inc.
- Palantir Technologies Inc.
- Teradata Corporation
- Informatica LLC
- Fair Isaac Corporation
- MicroStrategy Incorporated
- Cloudera Inc.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 250 |
Published | October 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 30.67 Billion |
Forecasted Market Value ( USD | $ 54.28 Billion |
Compound Annual Growth Rate | 15.3% |
Regions Covered | Global |
No. of Companies Mentioned | 23 |